How to Succeed at Succession

Mike Coonrod, sbjLive Producer

Posted online
November 6, 2018 | 9:16 am

Jay Guffey, CEO of Mercy Rehab Hospital in Springfield, says it’s critical to have a succession plan in place. Whether necessitated by health issues, transfers, or job promotions, your team members need to be ready to step into new roles to keep the organization running smoothly. “One of my key things with my leadership team is to continue to develop folks that can step into roles, can take over and be able to operate, no matter what happens, because you never know exactly what’s going to happen.” Guffey is one of Springfield Business Journal’s 2018 Healthcare Champions.

Why would an employee ever turn down a $200 a month raise? Jody Dow with The Springfield Dream Center explains the “Cliff Effect” that exists in the state of Missouri for people who are employed and on state or federal assistance. “You may be getting $500 in food stamps, and your raise is only increasing your pay that month by $200. Well, that’s a $300 discrepancy.” In the state of Missouri, assistance is all or nothing. The Dream Center helps workers in this situation learn how to prepare for in advance for a pay increase that results in a gap in monthly income.